Emcure Pharmaceuticals reported a 48.2% year-on-year growth in net profit to ₹231 crore in the December quarter. This profit after tax (PAT) includes an exceptional expense of ₹38 crore related to changes in labour codes. Revenue from operations increased by 20.4% year-on-year to ₹2,363 crore. The company’s strong performance was driven by growth in key therapy areas across both domestic and international markets, particularly in chronic conditions such as cardiology and diabetes. New initiatives, including the launch of the semaglutide drug, Poviztra, in partnership with Novo Nordisk, aided growth during the quarter.
The domestic business rose by 15.4% year-on-year to ₹1,025 crore, while sales from international operations grew by 24.5% to ₹1,338 crore. Emcure’s EBITDA margin stood at 19.5%, with EBITDA increasing by 27.2% to ₹460 crore.
Emcure Pharmaceuticals launches Poviztra
During the quarter, the company launched Poviztra, a biological injectable form of semaglutide in the Indian market. Emcure has a window of four to five months before generics enter the market, which presents an opportunity to capitalise on patent expiry and gain a competitive edge before competition from generic products, Vik Thapar, president of corporate development, strategy, and finance at Emcure, said. The partnership with Novo Nordisk has provided the company with an early-entry advantage, he said.
The company has been rolling out the product across India, focusing particularly on Tier I and II markets. The expected entry of generics is anticipated to accelerate market adoption, positioning Emcure as a significant player in the rapidly growing weight management segment, with results expected to reflect from Q4 onwards. In-licensed products contributed approximately 7% to the company’s revenues.
Emcure’s international business
Emcure’s international business is outpacing its domestic growth, with a 24.5% increase in sales across all geographies. The rest of the world (RoW) business grew by 30.7%, driven by strong performances in both antiretroviral (ARV) and non-ARV segments. Europe continues to show robust growth, led by the rollout of Manx and Amphotericin B.
Notably, Liposomal Amphotericin B is the first generic in a $300 million market, while the acquisition of Manx’s portfolio has doubled Emcure’s current offerings in the UK.